Sports trainers, athletic trainers, personal trainers, and others often provide specific advice to their clients. Your clients appreciate your efforts. They also hold you accountable for the results.
Mistakes can happen, though. If you run a business like this, you need professional liability coverage. It can help to minimize the risks you face when mistakes occur, or clients do not get the expected results.
Outline Your Goals, Services, and Limitations
In this particular area of business, it is very important to have professional liability insurance. This form of business insurance provides an extensive layer of financial protection. It helps ensure that if someone files a lawsuit or claim against your business for poor performance, you do not have to pay exclusively out of pocket. There are limitations. However, this type of insurance is necessary for those who provide professional advice to others.
It is wise to work carefully with your clients through contracts. Provide specific information about what they can expect. Make no guarantees to them. It should be clear in any contract that you are not promising any specific result. When this type of mistake does happen, and the client is unhappy, he or she can file a lawsuit against you. You did not do as promised in the contract. This is where your liability insurance can step in and provide protection.
Even when you have a well-designed contract, miscommunication can occur. You still may fail to meet the expectations of the existing contract. You may not provide the level of service these clients expect. This is where you need to rely on professional liability insurance to help you. It can help cover any settlements or claims made against you. In a large-scale claim, it can also defend you in court.
An Important Form of Business Insurance
Professional liability insurance is an important type of business insurance for trainers. It gives you the freedom you need to operate your business. However, it is only one component of coverage. Most companies also need general liability, property insurance and much more. You may want to think about portable coverage as well.
Work closely with your business insurance agent. Outline what you do during the course of business. Ask questions about options for reducing your risks. And, be sure to have a professional liability insurance plan in place from the first day. For more information on setting up your coverage, our agents can provide assistance.